TD Asset Management Inc. boosted its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 18.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,624 shares of the biotechnology company’s stock after buying an additional 11,465 shares during the quarter. TD Asset Management Inc.’s holdings in BioMarin Pharmaceutical were worth $6,945,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Korea Investment CORP lifted its stake in shares of BioMarin Pharmaceutical by 143.5% during the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 940 shares during the period. Global X Management Co. LLC lifted its stake in shares of BioMarin Pharmaceutical by 16.8% during the 2nd quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock worth $176,000 after purchasing an additional 279 shares during the period. Toronto Dominion Bank lifted its stake in shares of BioMarin Pharmaceutical by 12.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 243 shares during the period. Commerce Bank purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $209,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $213,000. 99.26% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total value of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 1,200 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total value of $102,768.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,886 shares of company stock valued at $3,839,086. 1.85% of the stock is owned by insiders.
A number of brokerages have weighed in on BMRN. Zacks Investment Research lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Goldman Sachs Group reissued a “buy” rating and set a $129.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Morgan Stanley reissued an “overweight” rating and set a $117.00 price target (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Jefferies Group reissued a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies began coverage on BioMarin Pharmaceutical in a research note on Thursday, September 14th. They set an “overweight” rating and a $113.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $111.59.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at $83.62 on Tuesday. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41. BioMarin Pharmaceutical Inc. has a twelve month low of $79.50 and a twelve month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. During the same period in the prior year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.65 earnings per share for the current fiscal year.
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About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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